The 41-year-old Al Nassr forward received the symbolic honour as part of celebrations marking the prestigious award's 70th anniversary.
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Ronaldo's memorable 2008 campaign with Manchester United, during which he won the Premier League and Champions League, was voted the greatest Ballon d'Or-winning performance.
Reacting to the recognition on Instagram, the five-time Ballon d'Or winner thanked fans for their overwhelming support, acknowledging their contribution to his latest accolade.
"Football belongs to the fans!" Ronaldo wrote. "Thank you to all the fans around the world, the Ballon D’Or of All Time is also yours."